HOUSTON, TX – HFF announced today that it has secured $53 million in financing for The Promenade Shops (top left photo) at Centerra, a 656,030-square-foot retail lifestyle center in Loveland, Colorado.
HFF worked exclusively on behalf of the borrower, DRA Advisors, LLC, to secure the seven-year, fixed-rate loan through J.P. Morgan Chase Bank, N.A. DRA closed on the acquisition in December 2010 and subsequently financed the acquisition in February 2011.
The Promenade Shops at Centerra is located at the intersection of Interstate 25 and Highway 34 in northern Colorado’s master planned community of Centerra.
Completed in 2005, the property is 89 percent leased to tenants including Macy’s, Metrolux Theatres, Barnes & Noble, Best Buy, Dick’s Sporting Goods, Gap, Banana Republic and PF Chang’s.
The HFF team representing the borrower included senior managing directors Wally Reid and Susan Hill.
DRA Advisors is a registered investment advisor specializing in real estate investment and management services for institutional and private investors. DRA currently has over $9 billion in assets under management.
Contacts:
Wallace Reid, HFF Senior Managing Director, (713) 852-3500, wreid@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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